The Global Industrial Packaging Industry generated $ 60 Bn revenue in 2022-How will the market further shape in future? Ken Research
Increasing industrialization, growing e-commerce sector, shift towards sustainable packaging and Healthcare industry expansion are major factors contributing towards development of Global Industrial packaging Market.
1. The COVID-19 pandemic has had both positive and negative impacts on the Industrial Packaging Market.
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There is growing demand for customized packaging. Industries are increasingly adopting customized packaging solutions to meet specific product requirements and enhance brand differentiation. Customization offers benefits such as improved product presentation, better shelf visibility, and enhanced consumer engagement. The healthcare industry’s growth, driven by an aging population, advances in medical technology, and increasing healthcare spending, has contributed to the demand for specialized packaging solutions for pharmaceuticals, medical devices, and healthcare products.
2. Recycling and environmental concerns associated with the Industrial Packaging Market.
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According to the World Economic Forum, every year, at least 8 Mn tons of plastic leaks into the ocean, which is equivalent to dumping the contents of one garbage truck into the ocean every minute. This is expected to increase to two per minute by 2030 and four per minute by 2050, which can destroy the ecosystem. About 90% of all the trash in the oceans is from plastic. Estimates suggest that industrial packaging represents the major share. Hence, recycling becomes a major challenge in the industrial packaging industry, which provides re-use value, and results in lower wastage.
3. The role of Government around the world in Global Industrial Packaging Market
Governments around the world are implementing regulations to ensure that industrial packaging materials are safe for consumers and the environment. These regulations are observed to boost the production of industrial packaging in a sustainable way. Along with the rising demand for sustainable packaging solutions from multiple industries, technological advancements in packaging solutions are observed to fuel the market’s growth. Technological advancements have led to the development of new packaging materials, such as biodegradable and compostable materials, which are environmentally friendly and have better properties than traditional packaging materials.
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Global Industrial Packaging Market
